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The news headlines during late 2012 and early 2013 were predominantly encompassed by the numerous deliberations between the President of the United States of America and the United States Congress regarding how to deal with the economic situations facing the USA.
The unrelenting debates concentrated on situations which included the USA's Fiscal Cliff, Debt Ceiling and the Continuing Resolution for the Federal Government. Thus, while referencing these economic situations and the economic principles and terminology described in the course textbook, explain the difference between Macroeconomics and Microeconomics. Also explain how economics is used as a social science and as a policy tool.
Write a two-page essay in which you address the issues outlined
Assume a market is characterized by a unionized and a non unionized sector. Both sections initially have supply given through Q=10,000+25w, and demand by Q=20,000-10w, where w is weekly salary.
Derive a total revenue function and a marginal revenue function for the firm. Calculate the profit maximizing level of price and output for One and Only Inc.
Gentleman Gym just paid its annual dividend of $3 per share, and it is hugely expected that the dividend will raise by five percent per year indefinitely.
What is the group preference according to the plurality rule and what is the group choice according to the Borda count rule
Formerly, market for air travel in Europe was highly regulated. Entry of new airlines was severely restricted, and air fares were set by regulation.
Draw the game as a table. What are the Nash equilibria of this game? How does this game differ from a prisoner's dilemma, and how can participants achieve the optimal (both hunt Stag) outcome?
In the absence of a quota, what is the equation for the total supply of wine? Show your work - what are the equilibrium price and quantity of wine? Show your work.
Which of following industries would you classify as an oligopoly? Which would you classify as monopolistically competitive? Explain your answer.
Two firms face the demand equation given by P=200,000 -6(Q1 + Q2) where Q1 and Q2 are the outputs of two firms. The total cost equations for two firms are given by: TC1 = 8000Q1 and TC2 = 8000Q2.
Describe benefit and cost externalities. List the reasons for lack of optimal allocation of resources in each case. Explain the need for government intervention in case of market failure due to externalities. Explain why government intervention may n..
Case study any global economic event or events currently or recently covered in the news media and write a critical essay applying the concept points
Using the principles of supply and demand, develop a plan to alleviate the shortage of Math and Science teachers within this country. Try to use price and non-price determinants as your tools to reach equilibrium.
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